Governor Shaktikanta Das stated that the Reserve Bank of India (RBI) currently has no plans to allow business houses to promote banks, citing risks of conflict of interest and related-party transactions. He addressed the issue at an event organized by the Financial Express, noting that previous attempts to involve conglomerates in banking were disqualified a decade ago.
Blackstone-backed Aadhar Housing Finance Limited (AHFL) expects over 20% growth in home loan disbursements for low-income housing, driven by the upcoming budget's push for "Housing for All". AHFL's MD, Rishi Anand, urges the government to update the income criteria for economically weaker sections and low-income groups to align with current economic conditions.
The Indian Computer Emergency Response Team (CERT-In) issued an advisory following disruptions at global and Indian airlines, banks, and other institutions due to a Microsoft products outage. A Crowdstrike update caused the issue, leading to system crashes. Microsoft has since resolved the issue. Electronics & Information Technology Minister Ashwini Vaishnaw confirmed ongoing communication with Microsoft.
After the meeting, S Siddharth, Additional Chief Secretary (Cabinet Secretariat), told reporters, "The Cabinet has approved Bihar's new film promotion policy. There is significant potential and numerous opportunities for filmmaking in Bihar. The proposal originated from the state government's Art, Culture, and Youth Affairs department."
"The decision by the Congress government of Karnataka to give the 50 per cent reservations to the local people at the administrative posts and 75 per reservations for the non-administrative posts at the non-administrative posts in the private companies is more than a dispute of right and wrong," Mayawati said.
5 banks that offer up to 8% interest rates on 5-year FDs
UPSC on Friday filed an FIR against probationary IAS officer Puja Khedkar for fraudulently availing attempts in civil services exam.
Lotus Chocolate, under Reliance Consumer Products, experienced a significant surge in shares, reaching an all-time high after reporting a substantial increase in Q1 profit. The company, known for high-quality chocolate products, has shown remarkable growth and aims to compete with major confectionery players in the market.
As of 30-Jun-2024, promoters held 37.01 per cent stake in the company, while FIIs held 27.87 per cent and domestic institutional investors had 8.5 per cent.
Just take a small test, how many brands of pressure cooker can you recall. One or maybe two. It does not mean that there are only two companies which make pressure cookers. The answer is no. Now let's move to another sector, the water purification system, again maybe one or two. Now let's put this in context. Recently an FMCG company with a big power of cash to spend and distribution system, sold its water purification business to another company. The reason for moving out? it was not able to make a dent in this niche industry. Читать дальше...
The Counter-Terrorism Department (CTD) in the most populous province of Punjab said it had registered a legal case against ul Haq, accusing him of having planned sabotage targeting important installations in the province.
Union Budget Key Expectations: The 2024 Indian Budget is eagerly anticipated following the BJP-led NDA government's return to power. With hopes for increased citizen benefits, potential tax cuts, and support for farmers, stakeholders are keenly watching for measures to stimulate consumer spending, bolster the agricultural sector, and revitalize the real estate market.
A total of 1,029,068 shares changed hands on the counter till 02:05PM (IST).
Motilal Oswal's Manufacturing Fund opens NFO from July 19-August 2, managed by six experts, indexed to Nifty India Manufacturing Total Return Index, with a 1% exit load within three months, 2.25% TER, and Rs 500 minimum investment. It invests in REITs, InvITs, and follows an active strategy in manufacturing sectors benefiting from government incentives.
So, again, the broader global market set-up as well as the domestic set-up does not look so negative. Yes, intermediate corrections are part and parcel which will be short-lived. But it should be looked at as a buying opportunity
Reserve Bank Governor Shaktikanta Das emphasized the need for monetary policy to unequivocally prioritize inflation control, especially in the current economic environment marked by steady growth. Despite calls for rate cuts to stimulate economic expansion, Das underscored that theoretical concepts like neutral interest rates lack real-world applicability in policy decisions.
Nazara Technologies is also exploring plans to merge Paper Boat Apps into the company to integrate Kiddopia into its platform, allowing the company to benefit from its healthy cash flow, according to a stock exchange filing. "In terms of additional acquisitions, Nazara is well positioned to acquire gaming studios and we are in advanced conversations with many other studios as well," Nitish Mittersain, CEO of Nazara Technologies told ET.
Cryptocurrencies traded mixed on Friday with Bitcoin down 0.9% and Ethereum up. The global market cap dropped 0.8%. Bitcoin consolidates around $63,000, briefly hitting $65,000.
